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Property News

SHRA plans to debottleneck project pipeline, increase housing unit delivery

By: Donna Slater     30th September 2020 The Social Housing Regulatory Authority (SHRA) is planning to collaborate and develop mechanisms to remove bottleneck in its pipeline of projects in an effort to roll-out a greater number of affordable housing units, says SHRA CEO Rory Gallocher. He spoke during the SHRA’s virtual investment... 

Concor Buildings’ Oxford Parks development nears full occupancy

By: Donna Slater     30th September 2020 On completion of the Oxford Parks development, the site, situated along Oxford road in Rosebank, will house five buildings on a master basement structure. Oxford Parks Phase 2 is testimony to coordination on the part of Concor Buildings to ensure the concurrent construction of three different... 

EPP expects profit recovery in second half of this year 

By: Marleny Arnoldi     29th September 2020 JSE-listed real estate investment trust EPP has reported a loss of €24-million, or €0.027 a share, for the six months ended June 30, owing to lower tenant activities during the lockdown in Poland, where the company owns a portfolio of 25 retail centres and three office developments. This... 

EPP CEO Tomasz Trzósło
EPP CEO Tomasz Trzósło discusses some aspects of the company's interim results

Sustainable wood-based housing market possible in South Africa, say researchers

By: Simone Liedtke     28th September 2020 Researchers at Stellenbosch University (SU) have found that South Africa has sufficient log resource options for a sustainable wood residential market. SU’s Department of Forest and Wood Science Dr Philip Crafford says the researchers’ study showed that, with the use of wood resources currently... 

Sustainable wood-based housing market possible in South Africa, say researchers

L2D portfolio recovering from Covid-19 blow

By: Simone Liedtke     28th September 2020 While the reopening of the South African economy has contributed to a recovery in trading conditions for Liberty Two Degrees (L2D), the company’s operational performance for the first six months of this year was significantly impacted by the Covid-19 pandemic and the implementation of a national... 

Fairvest reports resilient performance in an 'exceptionally tough' environment 

By: Tasneem Bulbulia     23rd September 2020 Property investment holding company Fairvest Property Holdings' total distribution for the financial year ended June 30 was 21.038 c apiece – 3.4% year-on-year decrease. “We are pleased with the resilience that our portfolio has shown, in what can only be described as an exceptionally tough... 

Fairvest CEO Darren Wilder
Fairvest CEO Darren Wilder outlines the company's performance for the period

FNB survey shows decline in all three commercial property markets

By: Tasneem Bulbulia     23rd September 2020 The FNB Commercial Property Broker Survey for the third quarter shows that all three major commercial property buying/selling markets are substantially oversupplied, which appears supportive of the financial services provider's expectation of a near-term decline in commercial property values.... 

Divercity launches Jewel City 

23rd September 2020 Divercity Urban Property Fund has completed the first phase of its Jewel City project in a two-year development programme, and the new inner-city mixed-use precinct officially launched to the public on Heritage Day. Jewel City is a residential, commercial and retail development. 

Divercity launches Jewel City
Divercity launches Jewel City

Equites, Standard Bank ink R1.6bn sustainability-linked loan

By: Simone Liedtke     22nd September 2020 JSE-listed Equites Property Fund has closed a R1.6-billion sustainability-linked loan with Standard Bank aimed at promoting the achievement of various environmental, social and corporate governance (ESG) targets. The funding deal reflects that sustainable finance solutions in the African market... 

Affordable housing project launched in Cape Town

By: Donna Slater     22nd September 2020 Privately-owned property developer, the Amdec Group, broke ground at its 11 ha, R500-million affordable housing estate – Golden Grove Estate – in Ottery, Cape Town, on September 17. Golden Grove Estate will house 1 000 affordable residential apartments – including 24 m2 one-bed units, 36 m2... 

At the ground breaking event are, from left to right and in the foreground, Amdec chairperson John Wilson, Amdec CEO James Wilson, City of Cape Town Mayor Dan Plato and DNL Properties owner Howard Fisher.
At the ground breaking event are, from left to right and in the foreground, Amdec chairperson John Wilson, Amdec CEO James Wilson, City of Cape Town Mayor Dan Plato and DNL Properties owner Howard Fisher.

Attacq decides against declaring a full-year dividend to preserve liquidity 

By: Donna Slater     22nd September 2020 Real estate investment trust (Reit) Attacq experienced a decline in distributable earnings during the last six months six months of the financial year ended June 30, mainly as a result of tenant rent relief measures to help tenants through the worst of the Covid-19 lockdown. The company was... 

Attacq CEO Melt Hamman
Attacq CEO Melt Hamman and COO Jackie van Niekerk discuss the group’s financial six-month results for the year ended June 30.

City of Cape Town approves River Club redevelopment 

By: Simone Liedtke     22nd September 2020 The rezoning application for the River Club redevelopment in Observatory, Cape Town, has been approved by the Municipal Planning Tribunal. After considering submissions from the applicant, interested and affected parties, as well as officials representing the City of Cape Town, recommended the... 

Call for improved enforcement as construction transport accidents run up R352m tab

By: Irma Venter     22nd September 2020 Statistics provided by the Federated Employers Mutual Assurance Company (FEM) – the workmen’s compensation insurer for the building industry – indicate that there were 929 motor vehicle accidents (MVAs) in 2018 involving people working within the construction industry.  “While this may seem low,... 

Call for improved enforcement as construction transport accidents run up R352m tab

Jewel City set for Heritage Day launch

By: Tasneem Bulbulia     16th September 2020 The new inner city mixed-use precinct development, Jewel City, will officially be launched to the public on Heritage Day. Jewel City is a residential, commercial and retail development undertaken by Divercity – a partnership between property developers and funds Atterbury, iThemba and Talis. 

Aerial view of part of the precinct
Photo by Creamer Media's Tasneem Bulbulia
Aerial view of part of the precinct

CDC aiming to secure CEO replacement for long-serving Silinga by year-end 

By: Terence Creamer     16th September 2020 The Coega Development Corporation (CDC) has formally initiated a recruitment process to secure a replacement for its long-serving CEO, Pepi Silinga, who has been appointed CEO of Transnet National Ports Authority, effective October 1. The position has been advertised internally and externally and... 

Pepi Silinga
Pepi Silinga

Dube-Ncube to inspect Margate Airport renovations

By: Sane Dhlamini     11th September 2020 KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Nomusa Dube-Ncube will visit Margate on Saturday to inspect R10-million worth of renovations at the Margate Airport as the country observes Tourism Month. Dube-Ncube will be accompanied by KwaZulu-Natal Transport, Community... 

KZN MEC for Economic Development, Tourism and Environmental Affairs, Nomusa Dube-Ncube
KZN MEC for Economic Development, Tourism and Environmental Affairs, Nomusa Dube-Ncube

Balwin expects up to 60% decrease in earnings

By: Tasneem Bulbulia     10th September 2020 JSE-listed Balwin Properties’ results for the six month period ended August 31 were impacted by the unprecedented and evolving market conditions brought about by the coronavirus pandemic. Consolidated earnings a share and headline earnings a share for the period are, therefore, expected to... 

Afrimat Construction Index tanks in Q2, but predicts ‘strong performance’ ahead 

By: Irma Venter     10th September 2020 The second-quarter (Q2) Afrimat Construction Index (ACI) has dropped sharply on the back of the national lockdown regulations imposed between April and June to deal with the Covid-19 pandemic. JSE-listed openpit miner Afrimat produces industrial minerals, bulk commodities and construction materials. 

Afrimat Construction Index tanks in Q2, but predicts ‘strong performance’ ahead

Growthpoint posts solid result despite difficult operating environment

By: Tasneem Bulbulia     9th September 2020 JSE-listed Growthpoint Properties achieved a 5.4% growth in revenue and R5.5-billion in distributable income for the full year to June 30. Taking additional new shares issued during the period into account, this translates to distributable income per share of 183.1c, which is 16% lower year-on-year. 

Norbert Sasse
Norbert Sasse

Moolgem sells Limpopo property to Depoway

By: Tasneem Bulbulia     8th September 2020 Moolgem has agreed to sell the Jane Furse Crossing rental enterprise, in Limpopo, to Depoway as a going concern for R174-million. Moolgem is a subsidiary of Cumulative Properties, which is a wholly-owned subsidiary of JSE-listed Arrowhead Properties. 

Emira’s US portfolio helps offset lockdown impacts locally  

By: Marleny Arnoldi     31st August 2020 JSE-listed Emira Property Fund has declared a final dividend of 30.26c apiece, taking its dividend for the full-year ended June 30 to 104.36c apiece. The company declared a dividend of 151.34c apiece in the 2019 financial year, reflecting a 31%, or 46.98c apiece, year-on-year decrease in this... 

Emira Property Fund COO Ulana van Biljon
Emira CEO Geoff Jennet and COO Ulana van Biljon discusses the company’s performance over the last year

Balwin’s Mooikloof Mega City designated a strategic infrastructure project

By: Donna Slater     31st August 2020 Property developer Balwin reports that its newly created entity, Mooikloof Mega Residential City: Gauteng (Mooikloof Mega City), has been designated by the Presidential Infrastructure Coordinating Commission Council as a strategic integrated project (SIP) in terms of Government Gazette No. 43547... 

Redefine bids farewell to long-time COO David Rice

By: Simone Liedtke     28th August 2020 JSE-listed real estate investment trust (Reit) Redefine Properties will be bidding farewell to its long-time COO David Rice on August 31. Rice will be retiring from a career of more than 30 years in the property industry but will still remain on-hand on a month-to-month basis to assist in... 

Architecture firm presents equal opportunities

28th August 2020 Architecture firm Paragon Group is perhaps “unique in the industry” for employing an equal number of men and women, with the latter ranging from student architects to senior management. “I love the fact we have so many talented, audacious women in our company in different stages of their... 

Redefine lays foundations for future growth as property fundamentals continue to be challenged 

By: Simone Liedtke     24th August 2020 Managing risk through a streamlined, more focused offshore asset platform and zoning in resolutely on high-quality, well-located domestic assets have helped real estate investment trust (Reit) Redefine Properties lay the foundations for future growth once Covid-19-related uncertainty and... 

Redefine CEO Andrew Konig
CEO Andrew Konig speaks to investors and media during a pre-close briefing on August 24. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

SiSebenza launches online marketplace for flexible office space

By: Marleny Arnoldi     24th August 2020 Co-working and flexi office solutions provider SiSebenza has launched South Africa’s first online marketplace for co-working, flexi, shared and virtual office spaces. As local businesses emerge from lockdown and re-think their office space requirements, SiSebenza will help companies with space... 

Western Cape govt gives green light to mixed-use redevelopment

By: African News Agency      21st August 2020 The Western Cape provincial government has given the green light to the River Club redevelopment in Observatory,  Cape Town which is expected to create over 6 000 direct jobs, the developers said on Friday. The planned mixed-use development will be a significant boost to the economy and people of... 

Western Cape govt gives green light to mixed-use redevelopment

Construction to start on River Club redevelopment in Cape Town soon

By: Marleny Arnoldi     21st August 2020 The Western Cape Department of Environmental Affairs and Development Planning has given the go-ahead for the River Club redevelopment, in Observatory, Cape Town. The planned mixed-use development will be a boost to the economy and the people of Cape Town in the aftermath of the Covid-19... 

River Club artist impression
River Club artist impression

Pandemic to accelerate push for more flexible, greener and healthier offices

By: Marleny Arnoldi     21st August 2020 The exact impact of Covid-19 on office space is a key point of debate, but according to property stakeholders, its relevance for the immediate future of business is not, as offices will continue to be an essential part of doing business during and beyond the pandemic. However, offices will... 

Pandemic to accelerate push for more flexible, greener and healthier offices

Opinion: Providing for the right to adequate housing – innovation needed to address a complex challenge

20th August 2020 In this opinion piece, Sibanye-Stillwater executive VP of corporate affairs Themba Nkosi writes about the right to adequate housing for mining communities. Among some of the contentious policy issues in South Africa is the future of communities that live near mines and have been relying... 

Sibanye-Stillwater executive VP for corporate affairs Themba Nkosi
Sibanye-Stillwater executive VP for corporate affairs Themba Nkosi

NHBRC imposes record fine for non-enrolled Inanda subsidy housing project

By: Donna Slater     19th August 2020 Home building industry regulatory body, the National Home Builders Registration Council’s (NHBRC’s) disciplinary committee has fined eThekwini municipality R1.2-million for failing to enrol 60 subsidy houses, which were under construction at Inanda and formed part of the Umqhawe project. The... 

Canal Walk awarded 5-Star Green Star rating for environment-conscious initiatives

By: Donna Slater     19th August 2020 The Green Building Council of South Africa (GBCSA) awarded Cape Town-based shopping centre Canal Walk a 5-Star Green Star Existing Building Performance v1 Rating earlier in August. The centre, which is co-owned by Hyprop Investments and Ellerine Bros, is the first super regional shopping centre... 

Canal Walk awarded 5-Star Green Star rating for environment-conscious initiatives

PPP legislation being reviewed to ‘make it more workable’, says De Lille 

By: Irma Venter     18th August 2020 South Africa’s public-private partnership (PPP) legislation is undergoing a review, says Minister of Public Works and Infrastructure Patricia de Lille. “I can confirm that there is a review at the moment.” 

Patricia de Lille
Patricia de Lille

Steel awards go virtual

By: Darren Parker     14th August 2020 The South African Institute for Steel Construction’s (SAISC’s) yearly Steel Awards will be judged and hosted virtually through a dedicated application (app) this year. This comes on the back of efforts to mitigate restrictions on social gatherings and take advantage of the digital marketing... 

VIRTUOSITY ASSESSED
Small teams of judges attend sites physically, observing Covid-19 health and safety protocols, while others attend site visits virtually
VIRTUOSITY ASSESSED Small teams of judges attend sites physically, observing Covid-19 health and safety protocols, while others attend site visits virtually

Didiza starts addressing backlogs in Cape Town, other deeds offices

By: Marleny Arnoldi     13th August 2020 In heeding Western Cape Finance and Economic Opportunities Minister David Maynier’s call for Agriculture, Rural Development and Land Reform Minister Thoko Didiza to urgently intervene in the repeated closure of the Cape Town Deeds Office, she has announced her commitments to address the matter.... 

Growthpoint completes Lakeside Mall redevelopment

By: Donna Slater     13th August 2020 Property developer Growthpoint Properties has introduced two new anchor tenants − Pick n Pay and Dis-Chem − to the Lakeside Mall, in Benoni, Gauteng. This follows the completion of the final phase of a three-year, R135-million upgrade. The reconfigured space represents 4 900 m2 of gross... 

Growthpoint completes Lakeside Mall redevelopment

Rising data use, e-commerce bodes well for industrial property market

By: Marleny Arnoldi     6th August 2020 Accelerating trends such as e-commerce and data centres are adding resiliency to industry property against the backdrop of the Covid-19 pandemic, says real estate investment trust (Reit) Redefine Properties. While online sales in 2018, at R14-billion, still constituted only a fraction of what... 

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